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According to Spanish outlet AS, Diego Simeone is a big admirer of the Blues full-back and wants him to replace Filipe Luis, who is set to leave Los Colchoneros at the end of the season.
Ex-Chelsea left-back Luis is set to bid farewell to Atletico after spending nearly ten years with the club in two spells in the Spanish capital.
Alonso, who replaced Luis at Chelsea, has had a mixed season at Stamford Bridge.
He has been in and out of the line-up following a poor patch of form, with Emerson replacing him in key matches in recent months.
Meanwhile, Chelsea fans are worrying about the severity of Ruben Loftus-Cheek’s injury.
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The midfielder was withdrawn during Chelsea’s friendly against New England Revolution on Wednesday evening with an ankle problem.